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May 27, 2017

Build a Company Through Your Network

When starting a company, it is important to have resources to assist you in the early stages. Some of those resources include capital, people, and technology. In order to acquire many of these resources, you need work your network.

Most entrepreneurs leverage their relationships to move their idea and businesses forward. Early on, your network can provide customers, capital, employees, and advice. Spend the time reaching out to your network. Most people will generally be interested in what you are building and will be willing to assist you in a number of ways.

Be clear as to what you may need from certain people. You want to respect their time and make it easy for them to assist you. Let them know who you want to meet. Take the time to look at their LinkedIn profiles and ask for introductions.

Also, have good information prepared about your company to share with people, especially if you are raising capital. Put together an Executive Summary that can be shared.

Getting advice from people can be extremely important early on so you can prevent some mistakes. Reach out to those in your network who have already built companies. You can even try to join a business startup program that already has mentors and access to other resources such as capital.

Spend time nurturing your existing relationships, which will lead to building new relationships. Entrepreneurs should constantly be talking with people because you never who can be extremely valuable to you and your company.